The following account balances were taken from the adjusted trial balance for Shaw Messenger Service, a delivery
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The following account balances were taken from the adjusted trial balance for Shaw Messenger Service, a delivery service firm, for the fiscal year ended April 30, 20Y1:
Prepare an income statement.
Transcribed Image Text:
$ 14,500 Rent Expense 875,000 Salaries Expense 6,000 Supplies Expense 10,200 Depreciation Expense Fees Earned $ 75,000 481,300 Insurance Expense Miscellaneous Expense 7,150 Utilities Expense 40,850
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A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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